Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. explain how the wells fargo accounting information

Explain how the Wells Fargo accounting information system (i.e., components and functions) contributed to the fraud...

90.2K

Verified Solution

Question

Accounting

Explain how the Wells Fargo accounting information system (i.e.,components and functions) contributed to the fraud and / orembezzlement. You will need to focus on how each component /function of the accounting information system failed, whichresulted in the scandal / case.

  1. Recommend a strategy that Wells Fargo may use to prevent futurebusiness information failures. Indicate how the company shouldapproach the implementation of your recommended strategy. Providesupport for your recommendation.

Please include any websites/references used

Answer & Explanation Solved by verified expert
3.7 Ratings (426 Votes)
Sir As far as I understand your question is about the control system implemented and flaws in between since I am an accounting and control expert I give my best to explain on internal controls in the easiest way I am skipping the technical portion on technology working inside How an accounting system work in such companies The whole system normally works at 3 level TPS Transaction Processing System MIS Management Information system EIS Executive information system there are several other classifications but broadly we consider these three TPS is used by the lower    See Answer
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

For each of the statements below, indicate whether the statement is True or False AND provide...

Accounting
Q

BUSINESS LAW EMPLOYMENT LAWS 5. Name 3 laws that affect employee health, safety or privacy. 6. What must an...

Operations Management
Q

- A 0.171 M weak acid solution has a pH of 4.34. Find Ka for...

Chemistry
Q

A graduated cylinder filled with water rests upside down in a container of water at 0...

Physics
Q

2 kg of ice at 20 C is mixed with 5 kg of water at...

Physics
Q

Corporate Cable Speedy Connections Global Networks Dave s Dial Up Other Percent of Households 47...

Geometry
Q

9 1 point Determine the perimeter of this triangle a less than 46 units b...

Basic Math
Q

Sine Graphs Consider the following Sine graph A local maximum occurs at point A 2...

Basic Math
Q

R is the region bounded by the functions f(x) = 5?(x-1) and g(x) = (5x/3)...

Calculus
Q

Finding Missing Amounts (P11-1) At the end of the year, the records of Duo Corporation...

Accounting
Q

X Company manufactures several products. It currently uses a plantwide overhead allocation system, with machine...

Accounting
Q

P 14-5: Applying Six Sigma in Manufacturing versus Administration One large company that has been...

Accounting